Tag Archives: oil job cuts

Schlumberger Ltd <SLB.N> will buy oilfield equipment maker Cameron International Corp <CAM.N> in a deal valued at $14.8 billion to streamline supply chains and offer cost-effective services to oil and gas customers who have slashed budgets. The deal is the latest in a line of mergers in the energy industry as companies struggle to cope with a 60 percent plunge ...

General Electric Co <GE.N> said on Monday it was cutting 262 more jobs at its Lufkin oil unit in Texas and closing a foundry as it grapples with the plunge in global oil prices. GE earlier this year said it planned to eliminate some 575 jobs from Lufkin, bringing the total cuts to more than 800. “This was a tough ...

Oilfield services provider Halliburton Co <HAL.N> reported a 93 percent fall in quarterly profit as oil producers pummeled by a steep decline in oil prices cut drilling activity, and the company incurred about $400 million in charges. Net profit fell to $53 million, or 6 cents per share, in the second quarter ended June 30 from $775 million, or 91 ...

WICHITA FALLS, Texas — Local staffing agencies have seen a shift in recent months regarding who and what North Texas employers are searching for to fill vacancies. A low unemployment rate and an adverse change in the oil and gas industry from this time last year has changed the hiring landscape in the area. Employers were clamoring for welders and ...

Job slashing from the oil bust reached a staggering 150,000 at the end of May, according to energy recruiting firm Swift Worldwide Resources. In a recent Fuel Fix publication, Swift elaborated that when compared globally, the United States has seen the “the fastest and steepest decline.” Layoffs have slowed dramatically as oil prices have just begun to regain some footing ...

STOCKHOLM — Norwegian oil and gas company Statoil says it will lay off up to 1,500 staff and 500 consultants by the end of to slash costs. The state-controlled company said Tuesday the layoffs are a continuation of a cost-cutting program started in 2013, “well ahead of the current downturn” and the slump in the oil price. Chief operating officer ...

WASHINGTON – U.S. job openings surged to a record high in April and small business confidence increased in May, signs that the economy was regaining momentum after stumbling at the start of the year. The second-quarter economic outlook also got a boost from other data on Tuesday showing a solid rise in wholesale inventories in April, as stabilizing oil prices ...

AUSTIN, Texas — The Texas unemployment rate for April held steady at 4.2 percent. The Texas Workforce Commission on Friday announced last month’s statewide jobless figure compares to nationwide unemployment of 5.4 percent. Texas through March had seven straight months of unemployment rate declines. Amarillo had the state’s lowest jobless rate for April at 2.7 percent. Commission officials say McAllen-Edinburg-Mission ...

Numerous stories have been dished out covering the continuous rig count depletion happening across the nation. But while reducing oil rigs may have helped boost oil prices over the past month or so, it will do little to nothing in slowing production or alleviating the oil glut on the market, according to analysis from Goldman Sachs. “Our bottom-up analysis suggests ...

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